Square acquires the majority stake of TIDAL in a $297 million deal

Square, Jack Dorsey’s digital payments company, is acquiring a majority ownership stake in the music streaming service TIDAL. Jay-Z, who bought Tidal in 2015 for $56 million, will join Square’s board of directors.

Jack Dorsey tweeted: "Square is acquiring a majority ownership stake in TIDAL through a new joint venture, with the original artists becoming the second largest group of shareholders, and JAY-Z joining the Square board. Why would a music streaming company and a financial services company join forces?!"

"I said from the beginning that TIDAL was about more than just streaming music, and six years later, it has remained a platform that supports artists at every point in their careers," said Jay-Z.